12th Class Principle of Banking Online MCQ's Test with Answers for Chapter 11 (Non-Negotiable Instruments)

ICOM Part 2 English Medium Principles of Banking Chapter 11 MCQ's Test

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MCQ's Test For Chapter 0 "Principles of Banking Icom Part 2 English Medium Chapter 11 Online Test"

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Principles of Banking Icom Part 2 English Medium Chapter 11 Online Test

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Question # 1

Which of the following gets facility due to commercial letter of credit:

Question # 2

What does IOU mean

Question # 3

What is recieved by the post office on money order:

Question # 4

Commercial letter of credit is issued for the facilty of:

Question # 5

Stock certificate is a document issued by

Question # 6

If there is no guarantee to honour a letter of credit then it is called:

Question # 7

What is the nature of credit instrument IOU

Question # 8

Which of the following can be cancelled by the issuing bank without the consent of the other parties

Question # 9

IOU is a document

Question # 10

Where are the stock certificates sold and bought

Question # 11

Which type of letter of credit authorized the exporter to obtain an advance before the shipment of goods

Question # 12

Which one can be crossed :

Question # 13

I Owe You is a written instrument drawn by

Question # 14

What does the bank receive on issuing a letter of credit:

Question # 15

Which of the following is a non-commercial letter of credit

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ICOM Part 2 English Medium Principles of Banking Chapter 11 MCQ's Test

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ICom Part II Principles of Banking (E.M) Chapter 0 Important MCQ's

Sr.# Question Answer
1 Which letter of credit is automatically renewed by fulfilling certain conditions
A. Fixed
B. Documentary
C. Confirmed
D. Revolving
2 IOU is a document
A. Negotiable
B. Non-negotiable
C. Conditional negotiable
D. Unconditional negotiable
3 Which of the following is a non-commercial letter of credit
A. Irrevocable letter of credit
B. Red-clause letter of credit
C. Special letter of credit
D. Traveller's letter of credit
4 Which letter of credit is accompanied by some documents
A. Confirmed
B. Documentary
C. Non-documentary
D. All the above
5 Which type of letter of credit authorized the exporter to obtain an advance before the shipment of goods
A. Documentary letter of credit
B. Green-clause letter of credit
C. Confirmed letter of credit
D. Red-clause letter of credit
6 Which of the following can be cancelled by the issuing bank without the consent of the other parties
A. Revocable letter of credit
B. Irrevocable letter of credit
C. Revolving letter of credit
D. Unconditional letter of credit
7 Commercial letter of credit is issued for the facilty of:
A. Ambassadors
B. Common people
C. Businessmen
D. Alll of the above
8 What does IOU mean
A. I am a debtor to you
B. I am a creditor to you
C. Both a and b
D. None of these
9 Which of the following is useful in facilitating trade relation between the businessmen of different countries
A. Bank draft
B. Money order
C. Letter of credit
D. Stock certificate
10 If the exporter is not the receiver (beneficiary) of money then a letter of credit is called:
A. Resolving
B. Back to Back
C. Transferable
D. None of the above

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